|By Marketwired .||
|June 12, 2014 06:44 PM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 06/12/14 -- Forbes & Manhattan Coal Corp. ("Forbes Coal" or the "Company") (TSX:FMC)(JSE:FMC) is pleased to announce the appointment of Mr. David Thomas to the board of directors of Forbes Coal. The appointment of Mr. Thomas follows the resignation of Mr. Thomas Quinn Roussel who has stepped down as a director of Forbes Coal. Mr. Roussel will not stand for re-election at the upcoming Forbes Coal shareholder meeting to be held on June 27, 2014.
Mr. Thomas, P.Geo., is Managing Director (Canada) for RCF Management (Toronto) Inc. Prior to joining RCF in 2010, Mr. Thomas spent 15 years in investment banking as a mining analyst and institutional equity salesperson. Mr. Thomas is a geologist with an Honours Bachelor of Earth Science degree from the University of Waterloo and a Master of Science degree from Queen's University. As an exploration geologist, Mr. Thomas worked for eight years with Minnova Inc. and Metall Mining, exploring primarily for base metals in Canada.
The board of directors of the Company would like to thank Mr. Roussel for his past service to Forbes Coal and the board wishes him well in his future endeavors.
About Forbes Coal
Forbes Coal is a growing coal producer in southern Africa. It holds a majority interest in two operating mines through its 100% interest in Forbes Coal (Pty) Ltd., a South African company which has a 70% interest in Zinoju Coal (Pty) Ltd. ("Zinoju"). Zinoju holds a 100% interest in the Magdalena bituminous mine and the Aviemore anthracite mine in South Africa. Forbes Coal has an experienced coal-focused management team.
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the appointment and resignation of directors of the Company and future financial or operating performance of Forbes Coal and its projects. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Forbes Coal to be materially different from those expressed or implied by such forward-looking information, including but not limited to: general business, economic, competitive, foreign operations, political and social uncertainties; a history of operating losses; delay or failure to receive board or regulatory approvals; timing and availability of external financing on acceptable terms; not realizing on the potential benefits of the proposed transaction; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of mineral products; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and, delays in obtaining governmental approvals or required financing or in the completion of activities. Although Forbes Coal has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.